Blockchain is a much discussed topic in Real Estate, especially in the context of PropTech. Many discussions are around subjects and solutions that can comfortably be solved using "normal" database applications, some even better as Blockchain Databases can be searched comfortably like a "normal" database or even your Microsoft Excel or Google Sheet.
A Blockchain approach will be helpful when the following answers can be answered with yes:
- Do you need a decentralized shared control over the data? A popular example currently making it into the Real Estate world: Shared registry of land titles.
- Do the recorded transactions need to be immutable and provide an audit trail? An example waiting to be tackled and probably facing high resistance: Notarization of property contracts.
- Is there a physical asset, a digital license for artist creations like digital art or music? Another example is software licenses.
So before thinking about a startup based on Blockchain ideas ask yourself: "Is a Blockchain approach necessary of even helpful?"
Here are two videos that I found very helpful to understand the basic technical processes behind Blockchain technology.
Understand Blockchain in Two Minutes
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| https://youtu.be/r43LhSUUGTQ |
Blockchain 101 - A Visual Demo
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| https://youtu.be/_160oMzblY8 |
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